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TMI Blog2019 (9) TMI 1036X X X X Extracts X X X X X X X X Extracts X X X X ..... incriminating in nature. Assessment was completed on the date when the satisfaction note was recorded by the Assessing Officer and the additions are not based on any incriminating material found but on the basis of the books of account regularly maintained or unearthed, during the course of search therefore, the various additions made by the Assessing Officer are not sustainable. We, therefore, uphold the order of the CIT(A) deleting the additions made by the Assessing Officer on this ground itself. The grounds raised by the revenue are accordingly dismissed. X X X X Extracts X X X X X X X X Extracts X X X X ..... ign travel. He noted from the details filed that Smt. Beena Modi was travelling extensively. He further noted that Ms. Beena Modi is also full time employee of following companies from where she had received salary the details of which are as under :- M/s. Beacon Travels Pvt. Ltd. 12,00,000/- M/s. Bina Fashions N Food Pvt. Ltd. 24,00,000/- M/s. HMA Udyog Ltd. 41,79,232/- M/s. Indo Euro Investment Co. Ltd. 60,000/- 4. Rejecting the various explanation given by the assessee and observing that the assessee could not substantiate and justify the claim of foreign travel expenses undertaken by the director to the extent of ₹ 65,89,151/-, the Assessing Officer made addition of the same to the total income of the assessee. 5. Si ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng in nature as the information contained therein does not lead to any undisclosed income and not substantial enough to initiate proceedings under section 153C/153A of the Act. c) The due procedure for recording of satisfaction as envisaged by law has not been followed. Only one satisfaction note was recorded by the AO with respect to the present appellant and no such satisfaction note was recorded in the case of Sh. KK Modi. AO has not clearly brought out that the seized document is incriminating in nature and how the AO has satisfied himself that the said document leads to undisclosed income of the appellant. d) The asset, whose sale deed seized during search was already declared by the appellant in its return of income as fixed ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... revenue is in appeal before the Tribunal by raising the following grounds of appeal :- "1. That on the facts and in the circumstances of the case, the Ld. CIT(A) has erred in law and on facts in deleting the additions of ₹ 65,89,151/-, on account of foreign travel expenses, ₹ 8,01,686/-, on account of purchase of jewellery, ₹ 1,74,00,000/-, on account of unaccounted cash credit, and ₹ 29,24,328/-, on account of excess claim of depreciation by the AO, without discussing the merit of the case. 2. That on the facts and in the circumstances of the case, the Ld. CIT(A) failed to appreciate that the Hon'ble Allahabad High Court has held in the case of Commissioner of Income-tax, Central, Kanpur v. Raj Kumar Arora [201 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... een made on the basis of any incriminating material found during the course of search and all the additions made by the Assessing Officer are on the basis of books of account regularly maintained by the assessee. Referring to the decision of Hon'ble Delhi High Court in the case of CIT Vs. Kabul Chawla reported in 380 ITR 573 she submitted that no addition can be made in the completed assessment under the provisions of section 153 A/ 153C in absence of any incriminating material found during the course of search. Referring to the decision of Hon'ble Supreme Court in the case of CIT Vs. Singhad Technical Education Society reported in 2017-TIOL-309-SCs he submitted that the Hon'ble Apex Court in the said decision has held that seized incrimi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hows that the various additions made by the Assessing Officer are not based on any incriminating material found during the course of search from the premises of the search party. The document which was found during the search from the premises of Sh. Krishan Kumar Modi being the copy of the sale deed executed on 18.12.2007 by Sh. Sanjeev Lal in favour of M/s. Beena Fashions N Foods Private Limited is already recorded in the books of the assessee and said document per se is not incriminating in nature. Since the addition is not based on any incriminating material found during the course of search, therefore, we concur with the findings given by the Ld. CIT(A) that the addition so made by the Assessing Officer is not sustainable. 14. The Hon ..... X X X X Extracts X X X X X X X X Extracts X X X X
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